Correlation Between Keeson Technology and Xiamen Jihong
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By analyzing existing cross correlation between Keeson Technology Corp and Xiamen Jihong Package, you can compare the effects of market volatilities on Keeson Technology and Xiamen Jihong and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Keeson Technology with a short position of Xiamen Jihong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Xiamen Jihong.
Diversification Opportunities for Keeson Technology and Xiamen Jihong
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Keeson and Xiamen is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Xiamen Jihong Package in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiamen Jihong Package and Keeson Technology is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Keeson Technology Corp are associated (or correlated) with Xiamen Jihong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiamen Jihong Package has no effect on the direction of Keeson Technology i.e., Keeson Technology and Xiamen Jihong go up and down completely randomly.
Pair Corralation between Keeson Technology and Xiamen Jihong
Assuming the 90 days trading horizon Keeson Technology Corp is expected to generate 1.34 times more return on investment than Xiamen Jihong. However, Keeson Technology is 1.34 times more volatile than Xiamen Jihong Package. It trades about 0.07 of its potential returns per unit of risk. Xiamen Jihong Package is currently generating about -0.15 per unit of risk. If you would invest 1,024 in Keeson Technology Corp on October 30, 2024 and sell it today you would earn a total of 90.00 from holding Keeson Technology Corp or generate 8.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Keeson Technology Corp vs. Xiamen Jihong Package
Performance |
| Timeline |
| Keeson Technology Corp |
| Xiamen Jihong Package |
Keeson Technology and Xiamen Jihong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Xiamen Jihong
The main advantage of trading using opposite Keeson Technology and Xiamen Jihong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Xiamen Jihong can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Xiamen Jihong will offset losses from the drop in Xiamen Jihong's long position.| Keeson Technology vs. Cloud Live Technology | Keeson Technology vs. Nanjing Putian Telecommunications | Keeson Technology vs. Shenzhen Coship Electronics | Keeson Technology vs. Shenzhen Hifuture Electric |
| Xiamen Jihong vs. Caihong Display Devices | Xiamen Jihong vs. Unisplendour Corp | Xiamen Jihong vs. Zhejiang JIULI Hi tech | Xiamen Jihong vs. Kuang Chi Technologies |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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